Ron Olsen, Senior Vice President with The Segal Group, made the following statement regarding the result of yesterday’s election:

Prime Minister Trudeau now has an opportunity to deliver on an expanded Canada/Quebec Pension Plan, allowing Ontario to drop the Ontario Retirement Pension Plan (ORPP). He may also want to consider the establishment of a national pension safety net for the protection of members of defined benefit retirement plans where the sponsor no longer exists. Ontario employers will want to continue to “wait and see” if the ORPP is indeed a reality with which they must now contend.

Senior Consultant Joe Cerullo added, “We expect the new Liberal majority to focus on spurring economic growth, and make budget deficits more acceptable than they were under Prime Minister Harper. On infrastructure spending, the Liberal government will likely work with provincial governments on allocating investments.”

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